Zuckerberg says billionaires sometimes accumulate unreasonable wealth

Zuckerberg says billionaires sometimes accumulate unreasonable wealth

- It may be the first time a billionaire and a socialist agreed on anything

- Mark Zuckerberg surprisingly found common ground this week with Senator Bernie Sanders

- The senator had recently declared that billionaires should not exist

- The Facebook CEO concurred with Sanders, saying on some level, no one deserves to have that much money

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Facebook CEO Mark Zuckerberg, the fifth richest person in the world with many billions of dollars to his name, has given his view on billionaires.

Zuckerberg, who currently has a nett worth of nearly $70 billion (according to the Bloomberg Billionaires Index), thinks its unfair to have such wealth.

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Facebook founder says billionaires sometimes accumulate unreasonable wealth

Mark Zuckerberg’s townhall meetings with staff are a longstanding Facebook tradition. Photo: Mark Zuckerberg.
Source: UGC

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He made the comments on Thursday, 3 October during a live streamed question-and-answer session with Facebook staff in which he talked about billionaires, inequality and encryption.

The billionaire was answering a question about US Democratic politician Bernie Sanders' comment declaring that billionaires should not exist.

"I don't know if I have an exact threshold on what amount of money someone should have, but on some level no one deserves to have that much money," the Facebook CEO said.
Facebook founder says billionaires sometimes accumulate unreasonable wealth

Democratic politician Bernie Sanders' had commented declaring that billionaires should not exist. Photo: CNN
Source: Facebook

According to him, he understands where Sanders is coming from and this might just be the first time a billionaire and a socialist agreed on anything.

Sanders, a 2020 presidential hopeful, made the comment while outlining his proposal for a wealth tax and a national wealth registry.

“I think if you do something that’s good, you get rewarded. But I do think some of the wealth that can be accumulated is unreasonable,” Zuckerberg added
Facebook founder says billionaires sometimes accumulate unreasonable wealth

Mark Zuckerberg his wife Priscilla Chan have pledged to divest much of their wealth over their lifetimes through philanthropy. Photo: Mark Zuckerberg.
Source: Facebook

Zuckerberg, a billionaire himself, noted that he and his wife, Priscilla Chan, have pledged to divest much of their wealth over their lifetimes through philanthropy.

He previously pledged to give away 99% of his Facebook shares.

But he acknowledged criticism that that kind of giving leads to a small group of rich individuals selecting what does and does not get support.

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The alternative would be the government to choose all of the funding, according to the Tech guru.

“I think you can think at the same time both that it is unfair that any individual might have that much wealth," he said.
"...still it is better for everyone that there is certain choice and competition of ideas that get pushed out there,” said Zuckerberg.

Zuckerberg’s “townhall” meetings with staff are a long-standing Facebook tradition.

The meetings are normally private and details of the talks about the direction of the social network and product updates rarely leaked.

This was until this recently when The Verge published a transcript of an earlier meeting with Zuckerberg, criticising Senator Elizabeth Warren’s plan to break up the company.

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Source: Briefly.co.za

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